The property of a deceased individual is called his or her Estate. The Succession Law governs a person’s estate in Israel after their passing. A person’s estate includes their property at the time of death, as well as any rights, actions and obligations. The estate and the heirs to the estate may not absolve themselves of any actions performed by the deceased before his or her death. For instance, if a woman sold her car to another person before her death, the estate is entitled to the agreed upon compensation, but may not withdraw from the sale.
The estate of a deceased individual in Israel is meted out according to a person’s will (if a will exists), after a probate order has been issued, or according to the dispositive stipulations of the Succession Law in Israel (if there is no will or it has been found to be invalid), after an inheritance/probate order has been issued. In many cases, the estate is distributed, in some cases an estate manager is required. This procedure is common where there are debts attached to the estate or where objections to the probate or inheritance order have been submitted.
The estate manager will assemble all of the deceased’s assets (the estate), pay off any outstanding debts attached to the estate, and dispense the remainder of the estate among the heirs. According to section 97 of Israeli Succession Law, the estate manager is entitled to do “all that is needed to fulfill his duty” [all translations in this article are unofficial], apart from certain actions which require special permission by a court. The expenses incurred during this process are placed on the estate itself, including the estate manager’s salary.
It is important to note that these debts and expenses take precedence over the heirs’ right to the estate in Israel. Thus, if the estate has been distributed before all known debts have been paid, all heirs will be responsible for those debts in their entirety. before the probate order and distribution of the estate in Israel, heirs are not responsible for debts beyond the property of the estate itself.
An estate manager will take the following actions, among others, upon assuming his/her role:
– Open a separate bank account for managing the estate.
– Chronicle and track all income and expenses of the estate.
– Pay all outstanding debts and expenses of the estate.
– Distribute the remainder of the estate among the heirs, after debts and expenses have been paid
– Take legal action against an heir or any person who has caused harm to the estate.
– File a deposition to a court detailing the distribution of the estate (including the value of the property given to each heir at the time of distribution) within thirty days after the distribution of the estate.
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- Open a different financial balance for dealing with the bequest.
- Pay every exceptional obligation and costs of the home.
- Distribute the rest of the domain among the beneficiaries, after obligations and costs have been paid
- Take lawful activity against a beneficiary or any individual who has made damage the domain.
- File a testimony to a court specifying the appropriation of the domain (counting the estimation of the property given to every beneficiary at the season of dissemination) inside thirty days after the circulation of the bequest.